Did you know the median age of vacation home owners is 59 and 55 among investment property owners?

The typical vacation home is 220 miles from the owners primary residence versus 10 miles for investment property owners?

35% of investment properties are located in the suburbs, like Weston, FL compared with 11% of vacation homes?    

More homebuyers than ever are 30 years old or younger and Realtors are connecting with the Generation X and Y markets in Weston FL, Sunrise FL and Cooper City FL.  “As new generations enter the housing market, the real estate industry must adapt to meet changing needs and ways of doing business,” said Thomas M. Stevens, 2006 National Association of Realtors president from Vienna, Va., and senior vice president of NRT Inc.  Some Realtors don’t know a real estate industry without the Internet, technology is second-nature to them, and they speak their clients’ language, often both literally and figuratively.”
Another trend affecting real estate is the growing influence of the Internet as a resource in the home search. According to the 2005 NAR Profile of Home Buyers and Sellers, 42 percent of buyers who used the Internet to search for a home were 34 or younger.

“Our Realtor members, whether they grew up watching I Love Lucy or IMing their friends, are honored to be bringing the American dream of homeownership to the next generation and beyond.”
 

Want to keep cool in Weston FL?  Here are some common sense suggestions to help you “keep your cool”, save electricity and gain the most from vegetation.

• Plant trees on the northeast-southeast and the northwest-southwest sides of your house. Only in a climate where it is hot year-round, should you plant trees directly to the south.  (Even the bare branches of mature deciduous trees can significantly reduce the amount of sun reaching your house in the winter.)
• Plant trees and shrubs so they can direct breezes. Do not place a dense line of trees where they will block the flow of cool air around or through them.
• Set trellises away from your house to allow air to circulate and keep the vines from attaching to your house’s facade and damaging its exterior. Placing vegetation too close to your house can trap heat and make the air around your house even warmer.
• Do not plant trees or large bushes where their roots can damage septic tanks, sewer lines, underground wires, or your house’s foundation.
• Make sure the plants you choose can withstand local weather extremes.

I have a charming cottage home located at 239 SW 159th Terrace in Sunrise Florida.  The Real Estate market is still solid and ther are many fine homes such as the one below. Call me if you’re interested in this property.

Sunrise Florida Property For Sale

This condo located at 16100 Golf View Drive in Weston Florida has 1,500 square feet.  The Real Estate market is still active and has affordable condominiums available like this one. Call me if you’re interested in this property.

Condos for sale in Weston FL

Many families embrace a neighborhood that is not gated.  Ivanhoe in Davie, FL is a popular neighborhood with A-schools, land to spread out and no strict homeowner association rules. Check out my this property that has an open split floor plan in Waverly Hundred, Davie Florida.

Check out this condo that was completely redone in Weston Florida.  You’ll enjoy the water view as you relax on the patio after your short commute home from a days work in Broward County.

398 Lakeview Drive in Weston Florida

I have a new listing at a great price in the Coconuts in Weston Florida.  The architecture and the neighborhood streets are named after Key West memories.

Most property owners do not realize there are two separate types of title insurance policies.

The Lender’s Title Policy is required by every mortgage lender. This protects their loan secured by the real estate.  Title protections include forged signatures in the chain of title, recording errors, title claims by heirs and ex-spouses, deed indexing mistakes, unpaid property taxes, property surveys, other recorded liens, title search errors, undisclosed recorded easements, and improper foreclosures.  These policies offer no protection to the property owner in Weston, FL.

The Owner’s Title Policy protects the buyer’s equity as long as that insured or their heirs own the property.  As the mortgage balance is gradually paid down and the insured equity grows, the owner’s title ploicy becomes more valuable.

To illustrate, suppose you purchase a property for $200,000 with $20,000 down and an $180,000 mortgage.  The lender requires a title policy of $180,000.  For a bit more title premium, you can insure the $20,000, which will grow as the equity grows as you pay down your principal.

For example, if a title loss occurs when your mortgage balance is $100,000, the title insurer will pay the lender $100,000 for their title loss and you will receive $100,000 for your equity insured by the title insurer.

Another example would be when a home buyer purchased new construction property from a builder.  The builder paid for the lender’s title insurance, but the homeowner decided to save money and not purchase the owner’s title policy.  Guess what?  The builder had unpaid mechanics’ liens that had not been recorded.  Now the homeowner is stuck having to pay the unpaid construction bills.  This could have been avoided if an owner’s title policy was purchased at closing!

Now, there has to be an actual title loss or the title has to be seriously threatened to get paid since the title insurance is an indemnity policy.

Condo conversions have been popular due to their affordability and their location in prime spots.  Builders select existing apartment complexes for conversion because transforming a building is quicker and with less risk than constructing a building from the ground up.

Buyers need to ask if they are purchasing a fully renovated building that was taken down to the shell or are they buying a building that has had only cosmetic changes?
 

There are safeguards for buyers of condo conversions.  Extensive documents are submitted to the state by the developer, prepared by the architect or engineer, stating the condition of the apartment building and about the condominium they intend to create.  This information includes how long systems will last or their “useful life” and their estimated replacement cost of the building components such as the roof, structure, heating & cooling systems, plumbing, electrical systems, pavement and parking areas, drainage systems, fireproofing and fire protection systems, elevators, swimming pools and seawalls. Developers also must provide purchasers with disclosure documents that clearly outline the restrictive covenants that will bind the new condo unit owners.
 

Many people do not realize their financial exposure for repairs and replacements can be extensive.  Condo owners must assume upkeep of the building.  Problems arise if for example, roof repairs are more money than planned for in the reserve account, then condo owners may face a special assessment to help cover the expense of the repair.
 

It is very common that buyers, despite the fact that they are making one of the biggest investments in their life, choose to not take the time to read about what they are buying.  The state requires disclosure, but it is up to the buyers to read it and make an informed decision.